Page 11 - FY23 NRR Annual Report FINAL 11.10.23 (2)_Neat

Nurse & PA Recruitment and Retention Annual Report FY23 11

AGE DISTRIBUTION OF RN WORKFORCE
OUR PROFESSION NEEDS NEW GRADS AND EXPERIENCED RNS TO OFFSET RETIREMENTS

Our ability to attract and retain new graduates is critical as we look to offset the retirement eligibility of
28% of our current workforce (age 50 and older).
This vulnerability underscores the importance of maintaining a strong recruitment pipeline. Having a
balance of new graduates and experienced nurses can help us meet future demands while providing
continuity of safe care.

UM State of Michigan USA
SOURCE: HR DECISION SUPPORT 2023 SOURCE: MICHIGAN LICENSURE DATA 2023 SOURCE: NATIONAL NURSING WORKFORCE STUDY (NCSBN) 2023

YEARS OF SERVICE (UMPNC MEMBERS)
KEEPING AN EYE ON TURNOVER DURING THE FIRST 2 YEARS

In the past fiscal year, we know that our nurses in
their first two years of practice are at greatest risk for
turnover. In our organization, that’s over 22% of the
RN workforce.

Providing professional growth and development
opportunities within Michigan Medicine is our best
retention strategy for our novice nurses.

We also hire experienced APPs from outside our
organization, which helps maintain a healthy
balance of new and experienced Advanced Practice
Professionals. Even so, it would be in our interest to
explore hiring more U-M nurses who become APPs.

SOURCE: HR DECISION SUPPORT 2023